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Euclid CIC approves purchase of 10 Monterey Heights lots and sale to Magas LLC for owner-occupied infill
Summary
The Community Improvement Corporation voted to accept title to 10 vacant parcels in the Monterey Heights subdivision and authorized a purchase-and-development agreement with Magas LLC to build owner-occupied homes under the Open Door Euclid program.
The Community Improvement Corporation of Euclid on Aug. 11 approved taking title to 10 vacant parcels in the Monterey Heights subdivision and authorized a purchase-and-development agreement with Magas LLC to build owner-occupied single-family homes under the city’s Open Door Euclid program.
The board approved a resolution accepting the 10 parcels into the CIC’s inventory and a separate resolution authorizing the president of the board to convey those parcels to Magas LLC for $25,000 total under a draft purchase-and-development agreement included in the packet. The agreement requires new homes to…
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